The world's largest copper and molybdenum producer, Freeport-McMoRan (FCX - Get Report) is another firm that increased its dividend payout on Tuesday. The firm raised its payouts by 25%, bringing its quarterly dividend to 31 cents per share. That's a 2.2% yield at current share price levels.
Freeport produces around 12% of the world's copper output, a scale that affords the firm an attractive market position for the metal. The combination of absolutely staggering copper production along with exposure to precious metals (gold) and rare earths (molybdenum) gives Freeport an attractive level of diversification for a metals miner. While the three are likely to see prices move more or less aligned with one another, with demand for all three metals driven by completely different buyers, Freeport does have some protection here.More recently, high metals prices have generated strong performance for Freeport, even if output volumes haven't been as high as the firm had originally planned. This firm should have no difficulty maintaining its dividend payouts for the foreseeable future. Freeport shows up on recent lists of 10 Stocks JPMorgan Says May Rise Up to 58% and Stocks in Bottoming Sectors Primed for a 2012 Bounce.